BP to cut spending amid 'most brutal' oil price rout in decades; FMO prices €500 million seven-year Reg S sustainability bond; and Cit appoints new treasury and trade solutions head Sub-Saharan Africa

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• BP is braced for an £800 million ($1 billion) financial blow in its first-quarter results and plans to slash its spending by a fifth this year to weather “the most brutal” oil market rout in decades.

• Dutch development bank FMO has priced a new €500 million seven-year Reg S sustainability bond at MS+31bps - its first public euro transaction since May 2017

• Citigroup has appointed Esther Chibesa as Treasury and Trade Solutions Head Sub-Saharan Africa

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